Leicester's downfall is a salutary lesson for clubs

The Foxes sleepwalked into Premier League relegation

- MIGUEL DELANEY

On the day that one of the most sensational spells in any club’s history ended, many of the Leicester City squad and staff inevitably discussed “how it had come to this”. There was a general feeling that a wider malaise had afflicted the team, affecting “confidence and belief”. Some were more direct: “Brendan.”

Questions can be asked of Brendan Rodgers but it still feels wrong to put so much on a manager who lifted the club to the first FA Cup win in their history and successive fifth-place finishes. That really just illustrates how thin the margins can end up being for those outside the mega elite, and how even “model clubs” can quickly become examples of something else entirely. There is even a lesson here for a club as brilliantly run as Brighton.

Both of Leicester’s fifth-place finishes came in Covid seasons, as the wider game itself lost so much money, and the club’s owners suffered huge losses from the immense impact on their duty-free business. Had either of those campaigns brought Champions League football, and the greater prize money it produces, they might well have had enough to prevent the deep drop-off that has now seen them fall down to the Championship.

Many with knowledge of the club ultimately put it down to a lack of investment to build on the fine team they had. Uefa’s new financial sustainability regulations actually meant they had to go in the opposite direction, to bring down a huge expenditure-to-revenue ratio. Others from the industry argue that it goes even deeper, and beyond the money spent. It was how it was spent. The recruitment that had served them so well for half a decade has actually been “woefully inadequate” for at least five windows.